HANOVER, Md., Jan. 05, 2016 (GLOBE NEWSWIRE) -- The KEYW Corporation, a wholly-owned subsidiary of The KEYW Holding Corporation (NASDAQ: KEYW ), announced today it has named Michele M. Cook as Executive Vice President of Business Development, with an employment commencement date of January 18, 2016.
With almost 20 years of experience within the Department of Defense and Intelligence C4ISR community, Ms. Cook is a recognized industry leader in strategic business development with directly-attributable industry career sales in excess of $5 billion, including leading sales efforts to generate more than $2 billion in prime contract bookings in less than 30 months while at Six3 Systems. Before joining KEYW, Ms. Cook served as a Principal for Booz Allen Hamilton’s Business Development Center of Excellence. Prior to Booz Allen, Ms. Cook held the position of Vice President of Business Development for Six3 Systems where she successfully penetrated new markets in first-time IDIQ awards across multiple intelligence community agencies. Earlier, Ms. Cook led business development efforts for CACI International’s Intelligence Community sector, receiving the CACI Quantum award for Sales Excellence based on numerous successes in penetrating the company’s highest value, strategic accounts.
“Since joining three months ago, I have become even more convinced KEYW has some of the best technologies and best technologists in our community. Early on, I made it a key priority to match this technology capability with best in class business development, and Michele Cook is the ideal selection to build and lead a world class business development organization,” commented Bill Weber, President and CEO of KEYW. “Michele’s track record of success in developing business opportunities across the U.S. Intelligence Community is a perfect match for where we see opportunities for KEYW to grow and expand.”
“What most impresses me about KEYW is the company’s proven, full life-cycle capability across the entire intelligence mission, from front end collection through back-end analysis, which is a unique capability even for industry’s largest providers,” said Michele Cook, EVP of Business Development for KEYW. “I am excited to insert proven business development models, process and tradecraft against those capabilities and take KEYW to the next level of sales excellence; proving again the competitive edge of the mid-tier provider of the caliber of KEYW.”
In connection with Ms. Cook’s appointment, KEYW entered into an employment agreement with Ms. Cook, which provides for grants of inducement equity awards outside of KEYW’s Amended and Restated 2013 Stock Incentive Plan, in accordance with NASDAQ Listing Rule 5635(c)(4). The agreement and grants were approved by both the Compensation Committee of KEYW’s Board of Directors as well as the full Board of Directors as inducements material to Ms. Cook entering into employment with KEYW. The inducement grants, which are issuable upon commencement of Ms. Cook’s employment, include up to an aggregate of 100,000 shares of KEYW’s common stock as a long-term incentive inducement that will be granted during the five-year period following commencement of Ms. Cook’s employment, in the amounts set forth below, provided KEYW’s stock price exceeds the applicable target share prices set forth below for at least 30 consecutive trading days:
| Target Price Per Share | Long-Term Incentive Shares | ||||
| $ | 13.00 | 12,500 | |||
| $ | 16.00 | 12,500 | |||
| $ | 20.00 | 25,000 | |||
| $ | 25.00 | 25,000 | |||
| $ | 30.00 | 25,000 | |||
These long-term incentive shares will be subject to a two-year holding period following the grant date. The granting and vesting of the inducement shares will be contingent upon Ms. Cook’s continued employment with KEYW, subject to acceleration upon certain events.
About KEYW
KEYW provides agile cyber superiority, cybersecurity, and geospatial intelligence solutions for U.S. Government intelligence and defense customers and commercial enterprises. We create our solutions by combining our services and expertise with hardware, software, and proprietary technology to meet our customers' requirements. For more information contact KEYW Corporation, 7740 Milestone Parkway, Suite 400, Hanover, Maryland 21076; Phone 443-733-1600; Fax 443-733-1601; E-mail investors@keywcorp.com ; or on the Web at www.keywcorp.com .
Forward-Looking Statements: Statements made in this press release that are not historical facts constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements include but are not limited to statements about our future expectations, plans and prospects, and other statements containing the words “estimates,” “believes,” “anticipates,” “plans,” “expect,” “will,” “potential,” “opportunities”, and similar expressions. Our actual results, performance or achievements or industry results may differ materially from those expressed or implied in these forward-looking statements. These statements involve numerous risks and uncertainties, including but not limited to those risk factors set forth in our Annual Report on Form 10-K, dated and filed March 9, 2015 with the Securities and Exchange Commission (SEC) as required under the Securities Act of 1934, and other filings that we make with the SEC from time to time. Due to such uncertainties and risks, readers are cautioned not to place undue reliance on such forward-looking statements. KEYW is under no obligation to (and expressly disclaims any such obligation to) update or alter its forward-looking statements whether as a result of new information, future events or otherwise.
Contact: Chris Donaghey 443-733-1600
